Betting Regulation
Overview of the Issue
The sports betting sector has significantly grown over the past decade due to the rise of digital and mobile betting sites. This raid increase has pushed regulators to consider regulating the activities of betting sites to protect users from exploitation. However, there have been concerns about the motive for sports betting regulations because they focus on limiting betting companies’ revenue streams: Betting Regulation.
Sports betting also raises legality, ethics, and consumer protection issues. Since the repeal of the federal ban on sports betting in 2018, many states have legalized the activity amidst specific concerns about protecting the integrity of sports, gambling addiction, and ensuring that sports games are fair. These regulations test the balance between economic interests and moral obligations toward consumer protection and the integrity of sport.
Key Concepts
Sports betting regulations include important concepts in sports management, particularly in functional areas such as management, marketing, finance, law, and ethics. From the management point of view, regulators and league officials must create policies governing the operation of bets while providing integrity assurance. Marketing becomes important in betting regulation when partnerships between betting platforms and sports organizations affect fans. From a financial point of view, sports betting is an industry that can generate revenues, thus raising issues regarding the percentage of betting profits that should be reinvested into responsible gambling programs.
Legal frameworks represent another important factor in setting up the legality and type of sports betting within different jurisdictions. The ethical consideration, on the other hand, involves protection for vulnerable consumers and integrity within sport. These concepts play a significant role in supporting arguments for and against betting regulation and could dictate the future of betting laws in different jurisdictions.
Organizations Involved
The regulation of betting activities involves various organizations, including the government, sports leagues, betting companies, and media. Regulatory bodies, such as the U.S. Federal Trade Commission and state-specific gambling agencies, also play a vital role in making decisions relating to betting regulation (Hastings, 2022). Major sports leagues such as the NFL, NBA, MLB, and NHL are also actively involved in regulating how betting influences fan engagement and the integrity of their sport.
In addition, Davis (2024) argues that companies like DraftKings, FanDuel, and BetMGM are key players in betting regulation because they build gambling platforms and lobby for friendly regulations. However, these companies rely on the media to report on sports and maintain people’s interest in sports tournaments. Other organizations involved in betting regulation include advocacy groups like the National Council on Problem Gambling that seek to have their voices heard in policy to ensure policy tackles addiction and ethics.
Individuals Involved
The key individuals involved in betting regulation include the commissioners of sports leagues, lawmakers, executives of betting companies, and consumer protection advocates. League commissioners, including the NFL’s Roger Goodell, are involved in setting policies that influence the relationship between sports and betting. State and federal lawmakers advance legislation that specifies the legal status and scope of sports betting in their jurisdictions.
The CEOs and executives of the betting companies shape the market through league partnerships and strategic lobbying. Consumer protection advocates, legal scholars, and public figures shape public opinion and help move policy forward with provisions that mitigate the risks associated with betting.
Timeline of Important Events
Betting regulation has been shaped by various events that have occurred over the past decade. The first event occurred in 1992. In 1922, the Professional and Amateur Sports Protection Act banned sports betting throughout most states, reducing betting activities to specific locations, such as Nevada. The second event occurred in 2018 when the United States Supreme Court struck down PASPA, enabling states to legalize sports gambling independently. Sports betting laws were adopted across the United States after this event.
The third event occurred in 2019 when states like New Jersey and Pennsylvania allowed sports betting, leading to major partnerships across major leagues and wagering firms. The fourth event occurred in 2021 when the sports leagues became more aggressive in their betting integration, with most teams and arenas launching betting partnerships or on-site betting services. However, in 2023, concerns about responsible gambling and addiction increased, motivating lawmakers and regulatory agencies to take more strident action. Since then, most states have enacted stronger regulations regarding the protection of consumers.
News Stories
Various news stories have focused on the issue of betting regulation and the regulation changes. One of the news stories is the article “U.S. Lawmakers Introduce Bill to Put Regulations On Sports Betting Operators” by Jessica Golden. The article discusses the bill introduced by U.S. lawmakers to regulate sports betting.
The second news story is the article “Lawmakers Propose Bill to Put Federal Restrictions on Sports Betting, Gambling Ads” by Scott Polacek. This article describes the lawmakers’ intentions, stating they want to protect consumers and allow ethical advertising by regulating betting.
The third news story is “Betting on Improvements to Sports Gambling Regulations” by Alyson Diaz, Korinne Dunn, and Saba Mengesha. The article argues that different proposals have been created to improve oversight and consumer protection. The article also discusses the different directions states have taken since the Supreme Court opened the door for legal sports gambling in 2018 and examines the economic, ethical, and legal consequences caused by standardizing sports betting rules.
References
Davis, J. (2024). Pocket sportsbooks: Mobile sports gambling in the modern era. Fordham Urban Law Journal, 51(3). https://ir.lawnet.fordham.edu/cgi/viewcontent.cgi?article=2965&context=ulj
Diaz, A., Dunn, K., & Mengesha, S. (2024, February 25). Betting on improvements to sports gambling regulations. The Regulatory Review. https://www.theregreview.org/2024/02/24/saturday-seminar-betting-on-improvements-to-sports-gambling-regulations/
Golden, J. (2024). U.S. lawmakers introduce bill to put regulations on sports betting operators. CNBC. https://www.cnbc.com/2024/09/13/federal-bill-regulations-sports-betting-operators-safe-bet-act.html
Hastings, P. (2022, May 11). Overview of US federal gaming law. Lexology. https://www.lexology.com/library/detail.aspx?g=d5a3f46a-4d09-4854-9c44-43beef09076a
Polacek, S. (2024, September 12). Lawmakers propose bill to put federal restrictions on sports betting, gambling ads. Bleacher Report. https://bleacherreport.com/articles/10135186-lawmakers-propose-bill-to-put-federal-restrictions-on-sports-betting-gambling-ads
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PAPER: CURRENT ISSUES ASSIGNMENT INSTRUCTIONS
OVERVIEW
In the Current Issues Assignment, you will investigate a current issue occurring in the business of sports. Topics may come from policies implemented by a sport governing body, legal or ethical issues being faced by sport organizations, financial topics, etc. If you are unsure whether your topic would be appropriate, contact your professor. Your assignment will inform the reader about everything they need to know about the given topic. You will need to use a minimum of five (5) sources.
Betting Regulation
INSTRUCTIONS
This assignment will consist of the following sections:
- Title Page: Follow the APA style guide.
- Overview of the Issue: A one paragraph summary of the issue to be discussed.
- Key Concepts: Make a connection to SMGT issues covered so far in the text. Specifically, these should relate to one or more of the functional areas of sport management: Management, Marketing, Finance, Law, and Ethics.
- Organizations Involved: A list and description of the organizations that are impacted by this issue. Consider the multiple levels of sport, media, sponsors, host community, etc.
- Individuals Involved: A list and description of the key individuals who have a role to play in this issue.
- Timeline of Important Events: Provide a brief history of the issue in chronological format including the key happenings involving the organizations/people above. Depending on the issue, you may not be able to include each event in your timeline.
- News Stories: Include a brief summary with links to key news stories. A focus should be placed on articles from reputable news sources, and those articles where news first broke, and/or articles that provide thorough information. At least three (3) stories should be
- referred to in this section.
- Reference Page: Your reference list should include a minimum of five (5) sources. All sources should be cited using APA style. Each source should also be cited properly in the body of the paper when information from that source is used.
- Format: The body of your paper should be a minimum of four (4) pages (the page count does not include the Title Page or the Reference Page). Use one-inch margins, double-spaced lines, and 12-point Times New Roman font. The Overview, Key Concepts, and News Stories should be written in sentence/paragraph form. The Organizations Involved, Individuals Involved, and Timeline of Important Events sections may use bullet points, but complete sentences must be used in the descriptions (like what you see in the instructions above). Since this is your summary of the issue based on what you have read, the wording should be your own; do not use quotes, or
- copy/paste information. The University Honor Code applies.
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